SARAJEVO (Bosnia and Herzegovina), December 6 (SeeNews) – The combined premium income of the 27 insurance companies operating in Bosnia has increased 8.43% on the year to 578.5 million marka ($349.9 million/295.8 million euro) in the first ten months of 2017, data from the state insurance agency shows.
The non-life insurance sector contributed 464.9 million marka of premium income in 2017 through October, up 8.15% on the year, while the life-insurance companies contributed the remainder, which was 9.57% higher than their premium income in the first ten months of 2016.
The premium income of the 13 companies operating in the Federation, one of Bosnia's two autonomous entities, increased 6.33% to 399.96 million marka in January-October. In Bosnia's other entity, the Serb Republic, 14 insurance companies generated an income of 178.52 million marka, up 13.45% on the year.
The Federation-based Euroherc osiguranje was the biggest insurer in Bosnia with a premium income of 47.4 million marka in the first ten months of 2017, up 3.15% on the year, and a market share of 8.20% in the country as a whole.
In the Serb Republic, Wiener Osiguranje, a unit of the Vienna Insurance Group, was the biggest insurer, with a 13.36% rise in premiums to 30.8 million marka. Its share of Bosnia's insurance market was 5.33%.
(1 euro=1.95583 marka)